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Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
 COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the steam coal market is further stable, whereas the Asian market is supported by imports from China and India.
In view of the background of weaker industrial activity, the demand for steam coal in the Atlantic area is modest. The fob prices are slightly sinking connected with intensive swings upward and downward. The coking coal market has seen a sharp fall. The contract prices for the period 2009/2010 have declined by 60 % compared to the contract prices 2008 / 2009 and are partially crumbling.
Despite of lesser bulk commodity volume and further rising fleet capacity, the freight rates have considerably increased very recently. Considering the basis data, this upswing is not explainable. The tendency should rather be a lower freight level.
Hard Coal
Imports regarding the imports of hard coal, coking coal and briquettes for the months January to March 2009, the Federal Statistic Office of Germany determined a decrease of the whole imports by 14.6 % to 10,934,068 ton compared to the previous year.
"Energy Prices in 1Q 2009 the BAFA price in average was 91.24 Euro / TCE" German Coal Importers Association
Germany Domestic Coal – 1Q 2009
Due to the closures of the mines Saar, Walsum & Lippe , the German production decreased by 31 % to round 3.4 million t in 1Q 2009 in comparison with the previous year. Extrapolated there might be reached a whole production of 13-14 million ton in 2009.
In 1Q 2009 the coke production decreased by round 20 %. Due to the steel crisis, the coking plant Prosper operates curbed at 70 % and beyond that coke is dumped. The performance per man and shift in the mines declined by 25 %.
This is partly in consequence of the closures of the high efficient mines Ensdorf and Walsum. The sales of German coal fell from 5.8 million ton by 2.5 million t to 3.3 million ton. The biggest part of the decline in sales is due to the slowdown in German industrial production. The stocks rose by 0.6 million ton to 4.3 million ton. Until May 2009 the stocks increased to round 5 million ton.
The difficult sales situation continues. The steel boom and the expected shortages caused the coking coal prices in 2008 to rise to historic record heights. At this time, deductions of 60% are being negotiated, but it remains to be seen whether this price level, which is still high, will be able to stay here in view of the weak demand.Coke prices fell as well. For all practical purposes, the world market for coke collapsed in the first quarter of 2009. Instead of the normal 3 million ton, the world market leader China exported a mere 150,000 ton in the first quarter 2009.
" Nevertheless, the official export prices amount to round US$ 400.00. But in Europe comparable coke is traded at US$ 190.00 " German Coal Importers Association
Freight Rates
Freight rates reached historic record highs in 2008. The freight rate Richards Bay – Rotterdam for Cape size ships rose to US$ 50/ton, only to crash to US$ 5 / ton (–90%) by December 2008.
In the meantime, freight rates have recovered slightly and are again on the rise. However, the overall expectation is that the sinking volume of bulk cargo on the world market and rising fleet capacity will prevent any excessive fluctuations for the moment.
Germany
Germany’s coal market shrank by about 5 million t in 2008. But since domestic output fell by almost 4 million t, imports remained stable. There were virtually no effects on quantities from the steel crisis in 2008.
We expect a substantial decline in imports of 22% for 2009, a consequence of the steel crisis and a lower demand for electric power. While in the past the onus of adapting to collapses in demand fell on German coal production, there will this year, for the first time, be a major blow on import coal, but the great flexibility of the world market means that there will not be any problems adjusting to this situation.
Import prices for steam coal are also falling quickly. Prices fell to €83 t/TCE in March 2009 from the highest value of the border-crossing price (BAFA price) of €136 t/TCE in August 2008. We expect the price to continue to decline to €65-70 t/TCE by the end of 2009.
"As the US dollar is once again showing a weakening tendency, imports in Euros could become cheaper" German Coal Importers Association
Outlook 2009
World coal production in 2009 will continue to increase as a consequence of the great demand for electric power in the Asian region. But this growth will be weaker than in the past. China, India and Indonesia are planning significant increases in output.
World trade in steam coal will presumably remain stable, but the coking coal world market will probably decline by 40–50 million ton or 20% – 25%. The pendulum has swung back to a buyer’s market and will undoubtedly keep pressure on the world market prices for coking coal and steam coal in 2009.
The years 2007 and 2008 were marked by high investment spending in the coal mining industry worldwide. After an estimation of IEA for 2009 a reduction by round 40 % is expected.
Short-term – i.e. in the following 2 – 3 years, the reduced investment activity might not impact the markets. It has also to be concerned, that coal projects in 2 – 5 years and in this way in comparison to crude oil and gas projects – can go into production in the short run.
Analyzed by: KOHLENIMPORTEURE E.V. (Coal Importers Association), Hamburg
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Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- The Treasury - Australian Government
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- PTC India Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
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